A. Priority shall be given to projects that:
- (1) create high-quality, high-wage jobs in New Mexico;
- (2) when applicable, have higher percentages of matching funds from non-public entities;
- (3) demonstrate strong potential for commercialization in a target sector;
- (4) support the growth of New Mexico-based companies;
- (5) benefit communities that are rural or in an Indian nation, tribe or pueblo; and
- (6) provide opportunities for broad regional participation.
B. Awards of project funding shall:
- (1) allow for multiyear project periods aligned with federal or private sector grant or other non-state funding opportunity time lines;
- (2) permit pre-award project spending by applicants when necessary to meet non-state grant application deadlines; provided that applicants shall use non-state funding or other institutional funding for pre-award spending; and
- (3) provide that a certain amount of the funding may be used for an applicant's administrative costs to implement the project.
History: Laws 2025, ch. 133, § 10.
ANNOTATIONS
Effective dates. — Laws 2025, ch. 133, § 17 made Laws 2025, ch. 133, effective July 1, 2025.